Can You Sell a House With Mold?
Mar 25, 2021 | Hometown Development
Yes, it is possible to sell a house with mold, but you must disclose the problem to potential buyers before selling. Let’s break down what a mold problem means for you and your home, and how you can sell a house with mold fast.
Can You Sell a House with Mold?
If you’ve noticed signs of mold in your house — damp or peeling wallpaper, dark spots on your walls and ceiling, flooding damage, musty or foul odors in your heating system — the good news is you can still sell your home. If you can’t deal with the mold before you sell, it’s your obligation to disclose the mold to potential buyers. If you’re able to take care of the mold before you sell your home, you’re likely to have more luck finding a buyer. However, there are plenty of situations where dealing with mold problems first isn’t an option. Assessing and treating mold in your home can get expensive, fast. It also can take time to find all of the mold and get rid of it completely. If you need to sell a house quickly, or don’t think you can afford the repairs your home needs, you’ll need to sell your house with mold.
Disclosing the Problem
If you plan to sell a house with mold, you’ll need to disclose the problem to potential buyers. You should put it in writing to make sure any interested buyers are aware of the extent of the mold so you’ll be protected from any liability. You might consider consulting a legal professional to make sure everything is clearly stated. Although most buyers and lenders will be wary after hearing the news, it’s still possible to sell a house with mold. Keep in mind you may need to adjust the selling price to help buyers see the home’s potential beyond its problems.
How to Sell a House with Mold
To sell a house with mold, your best bet will be to secure a cash offer you can trust. You can either wait for the right buyer to find you or, for a quick and hassle-free sale, sell your house for cash to a real estate investor.
Sell Your House Fast for Cash
A cash sale means the buyer has the funds available to purchase your home in full, right now. They don’t rely on a bank to secure financing, which means cash sales often close faster than traditional home sales. Also, many lenders will not grant a mortgage for a house with mold, so a cash buyer will be your best option. If you can find the right cash buyer who is willing to overlook the mold, other fixes your home needs are likely not to deter them either. Whether your home needs expensive repairs or just a bit of TLC, a cash sale could help you sell a house with mold.
Sell Your House to a Real Estate Investor
Another way to sell a house with mold is to sell to a real estate investor. Real estate investors are more interested in the potential of a home than its current state, and will offer you a fair price based on its real market value. They prefer to close on home sales quickly, in cash, so you don’t have to wait for a bank to approve financing, or go through a long closing process. If you sell a house with mold to a real estate investor, you can sell quickly without having to spend money to fix up your home or deal with the mold yourself. If you’re struggling to combat mold in your home, know that you do have options. If you’re trying to sell, but can’t seem to find a buyer given your mold concerns, Hometown Development can help. Give our team a call to talk through your options today.